Possible Impacts of Smart Contracts on Construction Claim Management

Vedat Nalioğlu*, Hazal Tokdemir, Deniz Artan

*Corresponding author for this work

Research output: Chapter in Book/Report/Conference proceedingConference contributionpeer-review

Abstract

The information age and digital transformation challenge the construction industry's traditional business methods and current dynamics. Smart contracts are recently adopted in the construction industry to digitally facilitate the exchange of money, content, property, shares, and digitized asset. In this context, the usage of smart contracts is expected to impact the claims encountered in construction projects and the traditional claim management processes. This study aims to analyze the possible effects of smart contracts on construction claim management. A structured literature analysis was undertaken to determine the benefits that smart contracts may offer in this context. As a result, a research roadmap is developed to discuss the steps needed to integrate smart contracts in the construction claim management field. The study findings show that smart contracts may have considerable benefits in the claim management process including, record integrity, elimination of unnecessary bureaucracy, reliability of documents, reduction of transaction costs, and enhancing transparency.

Original languageEnglish
Title of host publicationBuilding for the Future
Subtitle of host publicationDurable, Sustainable, Resilient - Proceedings of the Symposium 2023 - Volume 2
EditorsAlper Ilki, Derya Çavunt, Yavuz Selim Çavunt
PublisherSpringer Science and Business Media Deutschland GmbH
Pages1631-1639
Number of pages9
ISBN (Print)9783031325106
DOIs
Publication statusPublished - 2023
EventInternational Symposium of the International Federation for Structural Concrete, fib Symposium 2023 - Istanbul, Turkey
Duration: 5 Jun 20237 Jun 2023

Publication series

NameLecture Notes in Civil Engineering
Volume350 LNCE
ISSN (Print)2366-2557
ISSN (Electronic)2366-2565

Conference

ConferenceInternational Symposium of the International Federation for Structural Concrete, fib Symposium 2023
Country/TerritoryTurkey
CityIstanbul
Period5/06/237/06/23

Bibliographical note

Publisher Copyright:
© 2023, The Author(s), under exclusive license to Springer Nature Switzerland AG.

Keywords

  • Construction Claim Management
  • Smart Contracts

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